Posts Tagged ‘Weekly Report’
This weekend has seen clearance rates remain in line with the performance of the market throughout July suggesting that little will change until after the Federal Election when stock levels will increase. Unless buyer activity increases buyers will be presented with conditions that are more favourable than they have been over the past few months.
The clearance rate this weekend is 67 percent, from a total of 467 reported auctions.
There was a total of 311 homes sold and 155 passed in, 97 of those on a vendors bid.
This weekend last year saw 424 auctions and a clearance rate of 85 per cent achieved.
The REIV expects around 580 auctions next weekend and then a drop to 320 on the weekend of the Federal Election.
Saturday July 31st 2010
Demand improved at this weekends residential auctions with a clearance rate of 71 per cent recorded, an increase from last weeks 66 per cent.
This result will provide encouragement and confidence to vendors with homes listed for auction between now and the federal election. An interest rate increase next week would reduce that confidence.
There was a total of 541 auctions reported this weekend, of which a total of 382 sold and 159 were passed in, 103 of those on a vendors bid.
This weekend last year saw 374 auctions, well under this weekend and a clearance rate of 87 per cent.
Next weekend the REIV expects 520 auctions.
House Sales in Detail
TOP 5 HOUSES
1. 58 Washington Street, Toorak $3,350,000
2. 42 Bayles Street, Parkville $1,701,000
3. 114 Maltravers Road, Eaglemont $1,700,000
4. 14 Green Street, Windsor $1,652,000
5. 27 Boorool Road, Kew East $1,582,000
TOP 5 BARGAIN HOUSES
1. 4 Burke Road, Sunbury $190,000
2. 21 Fugosia Street, Doveton $300,000
3. 21 Talgarno Street, Broadmeadows $320,000
4. 96 Ashenden Square, Rosebud $321,000
5. 12 Radiata Court, Mill Park $325,000
Flat/Apartment Sales in Detail
TOP 5 APARTMENTS
11. 1/29 Lewisham Road, Windsor $1,265,000
2. 609/108 Bay Street, Port Melbourne $1,200,000
3. 10 Butler Street, Camberwell $1,072,000
4. 43 Myrtle Street, South Yarra $982,500
5. 35/85 Rouse Street, Port Melbourne $970,000
TOP 5 BARGAIN APARTMENTS
1. 1/88-94 Franklin Street, Melbourne $260,000
2. 1/160 Bayswater Road, Croydon South $290,000
3. 2/139 Melrose Drive, Tullamarine $292,500
4. 3/42 Middle Road, Maribyrnong $295,000
5. 6/4-6 Burnewang Street, Albion $298,000
The clearance rate from this weekend’s 560 auctions was 67 per cent, a result that is remarkably consistent with the past few weeks indicating that the market has settled at a new level this winter.
Buyers continue to have the upper hand; homes selling at auction are not exceeding vendors’ reserves in the same way that they were before Anzac Day.
There were a total of 560 auctions reported this weekend with 375 selling and 185 being passed in, 123 of those on a vendors bid.
This weekend last year saw a total of 382 auctions held and clearance rate of 86 per cent achieved, higher than this year but with fewer auctions.
The next 3 weekends have around 550 auctions each weekend with a drop the following weekend, to around 130 at this moment, due to the Federal election.
The performance of the residential auction market improved marginally from last week with a clearance rate of 72%, compared to last weeks of 67%.
There were a total of 497 auction results of which 357 were sold, and 140 passed in, with 88 of the 140 being on vendor bids.
The corresponding weekend last year saw 293 auctions being held, and a clearance rate of 85%.
Listings remain high with approximately 1200 dwellings to be auctioned in the next two weeks.
Market Overview
There were 528 auctions reported this weekend with a total of 361 selling and 167 being passed in, 96 of those on a vendors bid. The clearance rate from this weekend’s auctions is 68 per cent. This weekend last year saw 293 auctions reported and a clearance rate of 85%. Next weekend the REIV expects 590 auctions.